By Max S - Crypto Dealer - 12-05-2020
Metal Pay, a banking app for investing in cryptocurrency, allows users to create a free bank account to buy and sell cryptocurrency. Metal Pay is established with the Proton mainnet and helps bring together payment gateways and banks to make them compatible. The new public blockchain platform Proton (XPR) is built with a Proof-of-Stake (PoS) consensus. The blockchain enables transactions of digital assets and funds to be sent to various channels.
In an interview with Cointelegraph, the CEO of Metal Pay stated that the company combines banking and blockchain technology. He stated that Metal Pay is essentially a universal platform for the payment industry. Users of the platform are about to transact between native and non-native platforms; however, this can only be done providing that the payment platforms have integrated Proton. Proton has a native cryptocurrency dubbed XPR, where users can buy Proton XPR to use for staking and governance within the network.
In comparison to other payment platforms, Metal Pay does not run as a solo system; many other platforms operate on their own despite users wanting the ability to cross-interact with multiple payment networks. A way to explain this is if a user to a well-known payment platform wanted to send money to another user, they would only be able to do this if the recipient also had an account with the same payment service. Hayner went on to say that Metal Pay doesn't need any particular platform to work as it recognises "fiat funding sources and linked identity."
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards